Goldmans M&A expert to join GSK

Glaxosmithkline has appointed Goldman Sachs' leading European mergers and acquisition (M&A) banker, Simon Dingemans, as its finance director.

Mr Dingemans will replace Julian Heslop in March when he steps down. GSK said that Mr Dingemans, who is a partner managing director at the US investment bank, had 25 years' experience and had worked closely with the company in the past.

Andrew Witty, GSK's chief executive, said: "Simon will bring valuable experience and capability to support us in our strategy to grow and diversify GSK's business through organic means and bolt-on acquisitions. He will also be responsible for delivering cost savings from our global restructuring programme and implementing further measures to simplify our operational model."

Despite Mr Dingemans experience in high profile M&A deals, GSK has insisted it is chasing only smaller, bolt-on acquisitions.